MUMBAI, JUNE 3, 2022 (GPN): Surat-based Aether Industries Limited (“Company”), a speciality chemical manufacturer in India focused on producing advanced intermediates and speciality chemicals involving complex and differentiated chemistry and technology core competencies, listed on the NSE at Rs 704 at 9.66% premium over its issue price. The scrip got listed at BSE at Rs 706.15 per share, 9.99% per cent premium over its issue price of Rs 642. The company’s share price closed at Rs 776.75 per share on the BSE, a 20.99% premium, and at Rs 774.40 per share on the NSE, an 20.62% premium.

As per NSE, the total quantity traded stood at 39.32 lakh shares, on BSE the total Quantity stood at 5.71 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 332.94 crore.

The Market Capitalization of the Company post today’s closing price stood at Rs. 9669.19 Crore as per BSE and Rs. 9639.94 Crore as per NSE.

The initial share sale with a face value of Rs 10 per equity share, consists of a fresh issue of equity shares aggregating to ₹ 627 crore and an offer for sale (OFS) of up to 2,820,000 equity shares and the issue was closed on 26^th May 2022. Qualified institutional buyer portion was subscribed 17.57 times. The reserved portion of non-institutional investors witnessed a subscription of 2.52 times. Retail and Employee was subscribed 1.14 times and 1.06 times respectively. Overall the issue was subscribed 6.26 times.

HDFC Bank Limited and Kotak Mahindra Capital Company Limited are the book running lead manager to the issue and Link Intime India Private Limited is the registrar to the offer.

Company Information

Aether Industries started with a research and development (R&D) unit in 2013 and began commercial production in 2017. It caters to the pharmaceutical, agrochemical, material science, coatings, high performance photography, additives and oil & gas segments of the chemicals industry.

As of March 31, 2022, the Company’s product portfolio comprised of over 25 products. The Surat-based company is the only manufacturer of 4MEP, MMBC, T2E, OTBN, NODG, DVL and Bifenthrin Alcohol in India and the largest manufacturer of 4MEP, T2E, NODG and HEEP in the world, by volumes; 4MEP, T2E, MMBC, NODG, BFA, OTBN, NMDG and DVL products were 100% imported into India from China four years ago and now Aether is selling these products in China.

The Company has two sites at Sachin in Surat (Gujarat, India). The initial manufacturing facility is a 3,500-square-metres space that houses R&D, analytical sciences laboratories, a pilot plant, a CRAMS facility, and a hydrogenation facility. The Second Manufacturing Facility is a large-scale manufacturing facility is a 10,500 square metres space and houses 16 production streams. It has an installed capacity of 6,096 MT per year and is divided into three buildings (and one SRP Plant Stream).

For the nine-months ended December 31, 2021, Aether Industries revenue from operations stood at Rs 442.54 crore and net profit at Rs 82.91 crore. The Company’s revenue from operations grew 49.04% to Rs. 449.82 crores in Fiscal 2021 from Rs. 301.81 crore in Fiscal 2020, while its net profit climbed 77.98% to Rs 71.12 crore in Fiscal 2021 from Rs. 39.96 crores in Fiscal 2020.Ends